Revolut has begun rolling out EURR, its first euro-pegged stablecoin, issued via Stripe-owned Bridge, starting in Denmark, Poland and Portugal.
Revolut Launches Euro-Backed Stablecoin, Entering Crowded Digital Currency Race
Revolut has begun rolling out its first euro-pegged stablecoin, EURR, marking the fintech giant’s formal entry into a rapidly expanding market for regulated digital currencies.
The token launched on August 20 and is being introduced in phases to select customers in Denmark, Poland and Portugal, according to regulatory filings.
Branded “Revolut Euro” within the app, EURR is legally issued by Bridge Building S.A., a Luxembourg-based electronic money institution owned by Stripe, which acquired stablecoin infrastructure firm Bridge in a deal valued around $1.1 billion.
Revolut Digital Assets Europe Ltd acts as the sole distributor, offering the token through Revolut’s retail app and its Revolut X trading platform.
Each EURR token is redeemable at face value against Bridge, with reserves held in segregated bank accounts or highly liquid euro-denominated instruments. An independent accounting firm is expected to verify monthly that reserves match circulating supply, under obligations tied to the EU’s Markets in Crypto-Assets (MiCA) regulation.
The launch is modest in scale so far: reserve dashboards showed just 374 EURR tokens in circulation, backed by an equivalent €374 in cash reserves — a fraction of rival tokens such as Circle’s EURC, which has over €400 million in circulation. The token currently runs on Ethereum and Polygon, with plans to expand to Solana, Arbitrum, Optimism, Avalanche and other networks.
Revolut’s move comes amid a broader push by European banks and fintechs into euro stablecoins, following moves by Circle, Germany’s AllUnity, and a consortium of banks including BNP Paribas, ING and UniCredit under the Qivalis project. Revolut has also previously trialled a sterling-pegged stablecoin and signalled plans for a dollar-backed token as part of its wider crypto ambitions.
